RFG Holdings Inc. Decreases Stake in Occidental Petroleum Co. (NYSE:OXY)
RFG Holdings Inc. reduced its stake in Occidental Petroleum Co. (NYSE:OXY — Free Report) by 52.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,107 shares of the oil and gas producer’s stock after selling 26,897 shares during the period. Occidental Petroleum comprises 0.4% of RFG Holdings Inc.’s investment portfolio, making the stock its 24th largest position. RFG Holdings Inc.’s holdings in Occidental Petroleum were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of OXY. Howard Capital Management Inc. grew its stake in Occidental Petroleum by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock worth $209,000 after purchasing an additional 216 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after acquiring an additional 248 shares in the last quarter. Horizon Investments LLC boosted its holdings in Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock worth $554,000 after acquiring an additional 257 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Occidental Petroleum by 20.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer’s stock worth $81,000 after acquiring an additional 274 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Occidental Petroleum by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 57,934 shares of the oil and gas producer’s stock worth $2,863,000 after acquiring an additional 290 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Mizuho decreased their price target on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price target on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Wells Fargo & Company decreased their price target on Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. UBS Group decreased their price target on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Finally, Barclays upped their price objective on Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $53.14.
Read Our Latest Stock Report on OXY
Occidental Petroleum Stock Performance
NYSE:OXY opened at $44.75 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. Occidental Petroleum Co. has a 12-month low of $34.79 and a 12-month high of $64.76. The stock has a 50-day moving average price of $40.84 and a 200 day moving average price of $45.88. The stock has a market capitalization of $44.04 billion, a P/E ratio of 18.34 and a beta of 0.87.
Occidental Petroleum (NYSE:OXY — Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. The firm had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $0.63 earnings per share. Equities research analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.
Occidental Petroleum Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.15%. Occidental Petroleum’s dividend payout ratio (DPR) is 39.02%.
About Occidental Petroleum
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company’s Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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